Brazil to make 'massive' investment in infrastructure, hopes for Indian role

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Last Updated: Sat, Nov 03, 2012 10:10 hrs

Kolkata, Nov 3 (IANS) With Brazil hosting the 2014 football World Cup and the 2016 Olympics, the country would be making "massive" investments in infrastructure and hopes Indian investors will play a big role in this, a top diplomat said Saturday.

The country also hopes to take the bilateral trade with India to $15 billion from the current $9.3 billion by 2015.

"The next soccer World Cup and Olympics will be held in Brazil and we would be making massive investment in the infrastructure sector. India, which has been an important trade partner, is surely expected to play a big role in that," Brazilian Ambassador Carlos Sergio Sobral Duarte said.

"We have planned investments of $16.2 in expanding three of our airports and $66.5 billion in improving and expanding our railways and roadways connectivity," said Duarte.

Participating in an Indian Chamber of Commerce organised interactive session, entitled "Building Bridges with Latin America", Duarte said his country has a target of achieving $15 billion bilateral trades with India by 2015.

"India traditionally has been an important trade partner. We hope the mutual trade goes up to $15 billion by 2015 from the current $9.3 billion.

"We also hope that more and more Indian company would invest in our country given the favourable environment for business there," added Duarte.

Chilean ambassador Chrishtian Baros and Peru ambassador Javier Paulinich Velarde also participated in the programme and hoped that trade relations with India would improve in the coming years.